For many Social Security is the difference between having their basic needs met and being financially destitute in their retirement years. Many of us have the financial and educational knowledge and abilities to provide ourselves with our own retirement plan. This, unfortunately, is not true for all citizens. We should encourage everyone to have a retirement plan and encourage all employers to make plans available. However, we need to keep the Social Security safety net that has worked well for over 80 years.
Provisions that should be considered include the following
Moderate increase in Social Security tax rate for employees and employers.
Increase Social Security cap to $250,000 for employees and a cap of $150,000 for employers.
Increase Federal Minimum Wage to $9/hr in 2018 and to $11.00/hr by 2022.
No Increase in retirement ages.